Ruling Party, Government, and Blue House: "We Will Do Our Best to Pass the Special Act on Investment in the United States by March 9... Swift Legislation Serves the National Interest"

Maintaining the original plan despite Supreme Court ruling on unlawful tariffs
Party, Government, and Blue House: "Swift enactment is best for the national interest"

In connection with the U.S. Supreme Court ruling that the reciprocal tariff measures of the Donald Trump administration were illegal, the Democratic Party of Korea reaffirmed its existing plan to pass the Special Act on Investment in the United States by March 9 after consultations with the Blue House and the government. This means they intend to maintain the existing agreement with President Trump despite the Supreme Court ruling.

Moon Geumju, floor spokesperson of the Democratic Party, announced this in a written briefing on the 22nd. The party, the government, and the Blue House held a meeting to review current trade issues related to tariffs at 8 p.m. that day at the Korea Banking Institute in Jongno-gu, Seoul. Spokesperson Moon explained, "We reviewed the impact of the U.S. Supreme Court ruling on reciprocal tariffs and our response measures," adding, "The party, the government, and the Blue House agreed that swift legislation of the Special Act on Investment in the United States is the best option for our national interest, and decided to do their utmost to ensure that it is passed by March 9, as agreed between the ruling and opposition parties."

Yonhap News

From the Democratic Party, Floor Leader Han Byungdo, Policy Committee Chair Han Jeongae, and Special Committee on the Special Act on Investment in the United States Secretary-General Jeong Taeho attended the meeting, while from the government, Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol, Minister of Trade, Industry and Energy Kim Jeonggwan, Trade Minister Yeo Han-koo, and First Vice Foreign Minister Park Yoonjoo were present.

Earlier, on the 20th, the U.S. Supreme Court ruled that President Trump’s reciprocal tariff measures against various countries, based on the International Emergency Economic Powers Act (IEEPA), were illegal. Immediately after the Supreme Court ruling, President Trump signed a proclamation imposing a 10% tariff on the entire world under Section 122 of the Trade Act. The next day, he announced via social networking services (SNS) that he would raise the 10% tariff to 15%. The new tariffs in the United States will officially take effect on the 24th.